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Why W&T Offshore Stock Is Soaring Today

TheMotleyFool

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Why W&T Offshore Stock Is Soaring TodayPhoto, wide shot, wide-angle lens, Coal company, neutral atmosphere, photo by Galina Stepanova: https://img.theapi.app/temp/0e838f13-fa33-4583-92e9-bf3375dacf70.png

Shares of W&T Offshore (NYSE: WTI) jumped more than 12% by 2:45 p.m. EDT on Wednesday. Fueling the oil stock's rally was an analyst upgrade.

An analyst at Stifel upgraded W&T Offshore's stock from hold to buy. They also increased their price target on the company from $5.10 per share to $6.90 per share. That implies significant upside potential given that shares traded around $4.50 after today's rally.

Image source: Getty Images.

Source Fool.com

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